Financial Advisor's Verification Opinion of Zhongtai Securities Co., Ltd. on the Detailed Report on Change of Equity of Jiangsu Changyu Aluminum Industry Group Co., Ltd.

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Financial Advisor June 2026

Statement

In accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Takeover of Listed Companies, the Standards for the Contents and Formats of Information Disclosure by Companies Offering Securities to the Public No. 15—Report on Change of Equity, and the Standards for the Contents and Formats of Information Disclosure by Companies Offering Securities to the Public No. 16—Report on Takeover of Listed Companies, and other laws, regulations, and normative documents, Zhongtai Securities Co., Ltd. (hereinafter referred to as "this Financial Advisor"), in accordance with recognized business standards and ethical norms of the securities industry, and in the spirit of honesty, trustworthiness, and diligence, has verified the relevant circumstances and materials of this change of equity and issued this verification opinion on the contents disclosed in the Detailed Report on Change of Equity of Jiangsu Changyu Aluminum Industry Group Co., Ltd. issued by the information disclosure obligor.

Therefore, this Financial Advisor hereby makes the following statements:

1. This Financial Advisor has performed its due diligence obligations in accordance with regulations, verified the Detailed Report on Change of Equity of Jiangsu Changyu Aluminum Industry Group Co., Ltd. disclosed by the information disclosure obligor, is convinced that the content and format of the disclosure documents comply with regulations, and guarantees that the professional opinions expressed do not have any substantive differences from the documents disclosed by the information disclosure obligor.

2. The project sponsors of this Financial Advisor and the institutions they represent have performed their duties of diligence, have verified and validated the contents of the Detailed Report on Change of Equity of Jiangsu Changyu Aluminum Industry Group Co., Ltd. of the information disclosure obligor, have not discovered any false records, misleading statements, or major omissions, and assume corresponding responsibilities for this.

3. The relevant materials relied upon by this Financial Advisor were provided by the information disclosure obligor. The information disclosure obligor has made a statement guaranteeing that all documents, materials, and oral testimonies provided are true, accurate, complete, and timely, that the copies or photocopies provided are consistent with the original materials or originals, that the signatures and seals on all documents are authentic, that there are no major omissions, false records, or misleading statements, and assumes individual and joint legal liability for their authenticity, accuracy, completeness, and legality.

4. For facts that are crucial to this verification opinion but cannot be supported by independent evidence or require professional knowledge such as law or auditing to identify, this Financial Advisor has made judgments based on opinions, explanations, and other documents issued by relevant government departments, law firms, accounting firms, and other relevant units.

5. The financial advisor opinion issued by this Financial Advisor regarding this change of equity has been submitted to the internal verification department of this Financial Advisor for review, and they have agreed to the issuance of this professional opinion.

6. This Financial Advisor has no interest in any of the parties involved in this change of equity, and the verification opinion expressed regarding this Detailed Report on Change of Equity of Jiangsu Changyu Aluminum Industry Group Co., Ltd. is conducted completely independently.

7. During the period of serving as the financial advisor, this Financial Advisor has implemented strict confidentiality measures and internal firewall systems.

8. This Financial Advisor specifically reminds investors that this verification opinion does not constitute any investment advice to the relevant parties of this change of equity and their affiliated companies. This Financial Advisor does not assume any responsibility for risks arising from any investment decisions made by investors based on this verification opinion.